Stock Comparison
CVX vs XOM: Two Integrated Majors, Two Payout Records
A head-to-head of Chevron and Exxon Mobil covering dividends, payout history, and size.
Data updated September 4, 2026
Best for
- CVXInvestors who want higher current income (3.37% vs 2.54% for XOM).
- XOMInvestors who want direct ownership of the underlying business, with no fund wrapper or management fee.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
CVX has lagged XOM over the trailing twelve months, posting a 37.18% total return against 46.63%. The picture flips over 10 years, though — CVX has compounded at 12.01% a year, ahead of XOM at 10.75%. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD | 1Y | 3Y | 5Y | 10Y | Since Jan 1962 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|---|---|
| CVX | 37.54% | 37.18% | 12.43% | 21.18% | 12.01% | 10.27% | 23.1% | 0.31 | 0.42 | -20.8% |
| XOM | 32.63% | 46.63% | 15.74% | 28.19% | 10.75% | 11.73% | 23.5% | 0.43 | 0.61 | -20.1% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Jan 1962” measures every fund from January 2, 1962 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Side-by-side snapshot
| Metric |  CVX |  XOM |
|---|---|---|
| Full name | Chevron Corporation | Exxon Mobil Corporation |
| Issuer | — | — |
| Last Close | $208.60 as of September 4, 2026 | $159.47 as of September 4, 2026 |
| Distribution rate | 3.37% | 2.54% |
| Distribution Safety Score™ | 99 | 100 |
| Safety-Adjusted Yield | 3.34% | 2.54% |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | Quarterly | Quarterly |
| Underlying index | — | — |
| Objective | Engages in integrated energy and chemicals operations including exploration, production, refining, and marketing of crude oil, natural gas, and petroleum products. | Explores, produces, and sells crude oil, natural gas, and petroleum products, and manufactures commodity petrochemicals worldwide. |
| Asset class | Equity | Equity |
| Inception date | N/A | N/A |
| Beta | 0.491 | 0.175 |
| Last dividend | $1.78 declared, pays 09/10/2026 | $1.03 declared, pays 09/10/2026 |
| Ex-dividend date | 08/19/2026 | 08/17/2026 |
Bottom lineChoose CVX if you want higher current income (3.37% vs 2.54% for XOM). Choose XOM if you want direct ownership of the underlying business, with no fund wrapper or management fee.
CVX vs XOM: two integrated oil majors
Both produce, refine, and pay a quarterly dividend. Payout history and scale matter more than a one-date yield.
| CVX | XOM | |
|---|---|---|
| Business | Integrated oil major | Integrated oil major |
| Payout | Quarterly dividend | Quarterly dividend |
| Distribution yield | 3.37% | 2.54% |
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Quick verdict
CVX (Chevron Corporation) and XOM (Exxon Mobil Corporation) are both quarterly-pay dividend-paying stocks, but they take different approaches.
CVX offers the higher yield at 3.37% vs 2.54% for XOM. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
Who should choose each?
Choose CVX
Chevron Corporation
- Want higher current income — CVX yields 3.37% vs 2.54% for XOM.
- Want direct stock ownership — full upside and dividend growth potential, no fund wrapper or expense ratio.
Choose XOM
Exxon Mobil Corporation
- Want direct stock ownership — full upside and dividend growth potential, no fund wrapper or expense ratio.
- Prefer lower volatility — a beta of 0.2 vs 0.5 for CVX.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
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Deep dive
Yield & income
On a $10,000 investment, CVX would generate roughly $28.08/month, while XOM would produce $21.17/month, at current distribution rates. Both pay quarterly distributions.
Strategy & risk
CVX is a stock built around integrated oil & gas exposure, while XOM is a stock built around integrated oil & gas exposure. Beta is 0.491 for CVX and 0.175 for XOM, making XOM the less volatile of the two by this measure.
Security details
CVX (Chevron Corporation) is a stock. XOM (Exxon Mobil Corporation) is a stock.
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Frequently asked questions
What is the difference between CVX and XOM for dividends?
Both are integrated oil majors that pay a quarterly dividend. CVX (Chevron Corporation) distributes 3.37% and XOM (Exxon Mobil Corporation) distributes 2.54% as of September 2026. Compare payout history, cover, and scale — not a one-date yield gap.
What is the current distribution rate for CVX and XOM?
CVX currently distributes 3.37% and XOM 2.54%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is CVX or XOM better for dividend income?
It depends on your goals. CVX currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between CVX and XOM?
CVX (Chevron Corporation) is a stock built around integrated oil & gas exposure, while XOM (Exxon Mobil Corporation) is a stock built around integrated oil & gas exposure. They are issued by — and — respectively.
Can I hold both CVX and XOM?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is CVX or XOM safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: XOM scores 100, CVX scores 99. Neither has a clear safety edge on that measure. XOM has also shown lower price volatility (beta 0.17 vs 0.49 for CVX). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
How much income does $10,000 in CVX vs XOM generate?
At current rates, $10,000 in CVX would generate roughly $28.08 per month ($337.00 annually). The same in XOM would produce about $21.17 per month ($254.00 annually).
Which has performed better historically, CVX or XOM?
CVX has lagged XOM over the trailing twelve months, posting a 37.18% total return against 46.63%. The picture flips over 10 years, though — CVX has compounded at 12.01% a year, ahead of XOM at 10.75%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
More comparisons to explore
Popular comparisons
CVX vs XOM — at a glance
Generated September 5, 2026.
Overview
Chevron and Exxon Mobil are both integrated oil and gas majors with century-plus operating histories, yet they differ meaningfully in capital allocation and risk profile. CVX offers a higher dividend yield and materially greater price volatility, while XOM prioritizes a lower payout ratio and defensive positioning. Both engage in exploration, production, refining, and petrochemicals across global markets.
How they differ
The biggest gap is dividend yield: CVX distributes 3.37% versus XOM's 2.54%, a difference of nearly 85 basis points that reflects CVX's more aggressive shareholder return program. Second is volatility—CVX's beta of 0.491 is nearly three times XOM's 0.175, meaning Chevron amplifies broad equity moves substantially more than its peer. Third is capital discipline: the lower yield and beta at XOM suggest a more conservative earnings reinvestment strategy focused on balance sheet strength and project funding rather than maximizing near-term distributions.
Who each is best for
- CVX: Fits investors comfortable with above-market oil-price sensitivity who prioritize current quarterly income from energy holdings and can tolerate larger drawdowns in market downturns.
- XOM: Fits investors seeking energy-sector exposure with smoother price behavior and lower dividend cuts in downturns—useful where volatility drag or sequence-of-returns risk matters.
Key risks to know
- Commodity cycle risk: Both stocks depend on crude and natural gas prices; extended periods of weak energy markets can pressure earnings, capital budgets, and payout safety. CVX's higher yield leaves less margin for error during troughs.
- Beta divergence in stressed markets: CVX's 0.491 means it can underperform XOM by 2–3 percentage points during broad equity sell-offs, and outperform by similar amounts in rallies—a structural bet investors must consciously own.
- Energy transition and long-term asset stranding: Both carry exposure to potential regulatory shifts, energy demand changes, and capital-project writedowns as global energy demand mixes shift. Dividend safety hinges partly on successful low-carbon energy pivots that remain unproven at scale.
- Dividend sustainability in downturn: CVX's higher yield leaves it more exposed to dividend reduction risk if oil prices or operating cash flow fall sharply. XOM's cushion is wider but not unlimited.
Bottom line
If you prioritize current income and can tolerate material price swings, CVX's 3.37% yield stands out. If you want energy exposure with significantly lower volatility and a wider safety margin on the dividend, XOM's steadier beta and lower payout ratio offer trade-offs worth considering. Both remain cyclical businesses; past performance in a favorable energy environment does not predict results through a transition period.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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